IRA DISTRIBUTIONS
 


IRA DISTRIBUTIONS
If you are 70 1/2 years old or older, you can take advantage of a simple way to benefit the Conservancy and receive tax benefits in return. You can give up to $100,000 from your IRA directly to Catalina Island Conservancy without having to pay income taxes on the money.

WHY CONSIDER THIS GIFT
  • Your gift will be put to use today, allowing you to see the difference your donation is making on Catalina Island.
  • You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
  • If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover can satisfy all of part of that requirement.

FREQUENTLY ASKED QUESTIONS
Q. I've already name Catalina Island Conservancy as the beneficiary of my IRA. What are the benefits if I make a gift now instead of after my lifetime?
A. By making a gift this year of up to $100,000 from your IRA, you can see your philanthropic dollars at work. You are jump-starting the legacy you would like to leave and giving yourself the joy of watching your philanthropy take shape. Moreover, you can fulfill any outstanding pledge you may have made by transferring that amount from your IRA as long as it is $100,000 or less for the year.

Q. Can my gift be used as my required minimum distribution under the law?
A. Yes, absolutely. If you have not yet taken your required minimum distribution, the IRA charitable rollover gift can satisfy all or part of that requirement.Contact your IRA custodian to complete the gift.

Q. My spouse and I would like to give more than $100,000. How can we do that?
A. If you have a spouse (as defined by the IRS) who is 70 1/2 or older and has an IRA, they can also give up to $100,000 from their IRA.


For more information, please contact:
Suzy Gardner
562.437.8555 x1228
sgardner@catalinaconservancy.org

Geoff Coster
562.437.8555 x1225
gcoster@catalinaconservancy.org


*Please note that donors cannot receive any benefit from the Catalina Island Conservancy.

The information on this website is not intended as legal or tax advice. For such advice, please contact an attorney or tax advisor.
 

708 Crescent Ave., Avalon 90704 | Phone: (310) 510-1445 | 320 Golden Shore, Suite 220, Long Beach, CA 90802 | Phone: (562) 437-8555
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